Six steps to a new car
So you're ready to jump in and become a car owner. But, before you get too excited and hit the dealerships, take a look at our step-by-step overview of how the purchase process works. Think of it as your trial run.
STEP 1: Locate your vehicle
Find out who has the car you want. Buying off the lot is usually the quickest way to take delivery of a new car; a dealer trade (i.e. a trade between dealers) is second; factory ordering follows the others.
A note about the time involved: Even if the vehicle is in stock and you've pre-arranged financing, you may have to wait a day or two for licence plates, vehicle registration and other paperwork. So don't count on driving your car home on the day you finalize the paperwork.
STEP 2: Comparison shop
You may want to consider discussing the price. Advise each dealer you meet that you are comparison shopping, and leave yourself enough time to visit as many dealerships as it takes for you to get the price, service and relationship with the dealer that you want. For more info on this see our Negotiating section.
STEP 3: Get it in writing
When you make your deal, get the details in writing to avoid misunderstandings.
STEP 4: Read the fine print
Depending on how you are buying (leasing, financing or cash purchase), you will be presented with a range of documents, which may include some or all of the following:
- Credit application
- Bill of sale (or Sales Contract)
- Finance or lease agreement
- Insurance
- Vehicle registration
- Warranty documents
Be sure to read each one, including the fine print. Your bill of sale should list everything you are and are not getting in the car, and all costs associated with these items as agreed upon during negotiations. If anything is wrong, cross it out, initial your changes and have the sales representative initial them too.
STEP 5: Inspect the car
When the car is ready, you will be asked to sign a document indicating that you accept delivery. Before you sign: Check that the VIN (Vehicle Identification Number) on the car matches your other paperwork. Using your bill of sale as a guide, thoroughly inspect the car to ensure everything is as it should be. Check for the obvious:
- Any problems with the vehicle appearance?
- If the vehicle comes equipped with a spare tire and jack, are they in place?
- Has the dealer given you your owner's manual and two sets of all keys necessary for the car?
- Make sure the sales consultant reviews product features and check all the controls yourself.
- Revisit the service department. Meet the people who will care for your car when you bring it in for servicing.
STEP 6: Take delivery
When you are completely satisfied, sign the acceptance form and take the keys. Congratulations! The car is yours.
